Holy Special Dividends: Tellabs
Trading halted on Tellabs Inc (TLAB) this afternoon after the company announced an incredible $1 special dividend per share. Mind you that when trading halted TLAB was at $2.95. You can bet this stock is going to the races once it starts trading again.
This is crazy pills and easy money -- straight from NASDAQ.com:
Tellabs Inc. (TLAB) announced that its board declared a special cash dividend of $1 per share. The dividend is payable on December 21 to stockholders of record as of the close of business on December 14.
The company stated that the special dividend is in addition to a stock repurchase announced on November 20. The company intends to repurchase its common stock under an existing Board of Directors authorization, previously announced on November 8, 2007. The company may repurchase up to $224.6 million under the previously announced repurchase program.
The company added that it plans to use part of its $942 million in cash, cash equivalents and marketable securities for the program. The company has no debt.
Fellow Masters, this is an unbelievable deal. Buy shares before Dec 14th if you want to play this action.
Tellabs special dividend is more than 33% of its current share price. You pay less than $3 (provided you can buy it that cheap after trading resumes) and get a $1 dividend one week later? If Tellabs is crack right now then hand me the pipe because I am about to smoke it. Thank you Pookie.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Man Eats Twelve Gold Bars To Avoid Taxes ! Tell Nouriel | ZeroHedge
- US Navy Makes Gas from Seawater | ZeroHedge
- The Adaptive Genius of Rigged Markets | Financial Sense
- BACK IN HELL | iBankCoin.com
- Big Four Economic Indicators See Strong Advance | Financial Sense
- Turning Points | Financial Sense
- CUE PANIC BUYING | iBankCoin.com
The most relevant financial news and articles from the Internets
- Just This Week Reed Hastings Said Amazon Isn't Netflix's Real Competition | Business Insider
- Why Facebook Just Got Upgraded | TheStreet.com
- Hallucinogens Legally Sold as 'Bath Salts' a New Threat | BusinessWeek
- Army General Fired By President Obama: Don't Feel Sorry For Me | Business Insider
- These Are The Oldest Living Things On Earth | Business Insider
- Bill Ackman Has An Herbalife Whistleblower On His Payroll | Business Insider
- Three Americans Killed In Kabul Hospital Attack | Business Insider